MUTHOOTCAP

MCSL/SEC/23-24/272 January 23, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street, Bandra Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code – 511766 Trading Symbol - MUTHOOTCAP Scrip Code (Debenture & CP) – 974648, 974915, 974292,974550, 974551, 974552, 975282,725660, 725812, 725881 and 725984 Sub: Investor Presentation for Quarter ended December 31, 2023 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the presentation to be made to investors w.r.t. quarter ended 31st December 2023. Kindly take the same on your records. Thanking You, Yours Faithfully, For Muthoot Capital Services Limited Deepa G Company Secretary and Compliance Officer Membership Number: A68790 Encl: As above Muthoot Capital Services Limited., Registered Office: 3rd Floor, Muthoot Towers, M.G Road, Kochi - 682 035, Kerala, India P: +91-484-6619600, 6613450, F: +91-484-2381261, Email: mail@muthootcap.com, www.muthootcap.com CIN: L67120KL1994PLC007726 8 a { "4 | 1 ¢ aivXa Omega ileé Ba a | ] { gals } < iy / anala leaal d a 7 y 2 Q ,, 2 . ' | ar Tale ot (W ) [3 aS | hoo | | | a A a = ne San San mM y on MH PAPPACHAN BD | | | a = ; PIT Z aa PA Contents Operational Highlights 03-08 LI Performance Analysis 09-19 LSales and Collection Analysis 20-28 LW Asset Analysis 29-38 UO Liability Analysis 39-47 PAT Borrowing Cost New customer Q3 FY 24: = 1944 Cr Q3 FY 24: 479 Cr No: Of live Shareholders Fund No: Of States customers Q3 FY 24: = ~2400 Cr | rN CRISIL Rating XZ Rated “A+” Stable Q3 FY 24: 3 1756 Cr A NNPA PCR Stage 3 Stage 3 (Net) Overall Prov PAPPACHAN Geographically spread across States muthoot CAPITAL Highest Ever Profitability alll ~ 111 Cr 7.70% e T | j 113% Yoy © 131% YoY © S Improved Asset Quality 3.55 % 10.69 % -2% YoY -51% YoY v PAPPACHAN CAPITAL Hawk Eye View CRAR Ba Average LTV Debt Equity Ratio 33.21% 81.75% 2.92 Times APPACHAN CAPITAL GNPA and NNPA NNPA GNPA 4.73% 4.52% 22.14% 22.82% 20.55% 11. 67% 10.81% 10.69% ° ‘0 Mar-23 June-23 Sep-23 Dec-23 Mar-23 June-23 Sep-23 Dec-23 M GNPA POS’ S&GNPA Interest Accrued M@ NNPA POS’ S&NNPA Interest Accrued —— APPACHAN CAPITAL FINANCIAL PERFORMANCE - QUARTERLY & 9 MONTHS ENDED %. In Crores Parameters 9M FY24 9M FY23 9Mo9M Q3 FY24 QO3FY23 QoQ Disbursement 1,008.02 1,029.85 -2% 479.00 412.39 16% Asset Under Management - AUM 1,944.00 2,141.00 -9% 1,944.00 2,141.00 -9% Net Interest Income - NII 175.93 223.18 -21% 56.32 74.66 -25% Operating Expense - OPEX 117.88 131.89 -11% 37.61 45.98 -18% Loan Losses and Provisions 7.05 19.90 -65% 5.51 1.59 247% Profit Before Tax- PBT 149.65 71.73 109% 13.39 27.54 -51% Profit After Tax- PAT 111.43 52.27 113% 10.26 19.66 -48% Return On Asset - ROA 7.70% 3.33% 131% 2.24% 3.75% -40% Return On Equity - ROE 27.26% 15.36% 71% 6.89% 18.30% -62% Capital Adequacy Ratio - CRAR 33.21% 23.89% 39% 33.21% 23.89% 39% Gross NPA - GNPA 10.69% 21.86% -51% 10.69% 21.86% -51% INet NPA - NNPA 3.99% 3.63% -2% 3.59% 3.63% -2% irl ———— APPACHAN CAPITAL STATEMENT OF SOURCES AND APPLICATION OF FUNDS %. In Crores Sources 31-Dec-23 | 30-Sep-23 | 31-Dec-22 Application 31-Dec-23 | 30-Sep-23 | 31-Dec-22 Share Capital 16.4 16.4 16.4Fixed Assets 4.9 2.1 1.7 Reserve & Surplus 584.2 574.0 447.2Investments 190.7 221.3 120.6 Shareholders' Funds 600.7 590.4 463.6Deferred Tax Assets 34.5 36.7 90.9 Bank Debts 972 962.6 986.8 Securitizations Pool 263.4 263.4 505.4Hypothecation Loan 1573.8 1395.0 1556.2 Sub debt / Debentures / MLD/NCD 384.8 280.5 164.2Loan Buyout(Retail loans) 43.6 58.4 49.3 Public Deposit /ICD/CP 130.1 70.7 71.3Term Loans 118.8 113.6 72.5 Loan From Directors 6.8 6.8 5.10ther Loans 1.3 1.3 5.3 Interest Accrued on Loans -1.9 -1.1 -1.0Interest Accrued on Loans 36.8 29.3 45.9 Total Borrowings 1754.9 1582.9 1731.8Total Loans * 1774.3 1597.7 1729.0 Trade Payable 18.9 20.3 30.9Cash & Cash Equivalents 324.6 304.5 267.1 Provisions 2.0 2.0 4.,00ther Financial Assets 11.1 11.5 9.1 Other Financial Liabilities 21.4 47.0 23.70ther Non-Financial Assets 59.7 70.8 37.1 Other Non-Financial Liabilities 2.0 1.9 1.6 Derivative Financial Instruments 0.0 0.0 0.0 2255.5 Total 2399.8 2244.5 irl PAPPACHAN CAPITAL Disbursements (in = crores) Average LTV 478.9 80.56% ‘ 412.4 8 0.00% 279.8 328.5 78.40% 200.7 | 77.20% Q323 Q423 Qi24 Q224 Q324 Q3 23 Q423 Q124 Q2 24 Q3 24 AUM 2102.0 1996.0 In Q2 Company has done ARC of & 235 Crs. The portfolio has been derecognized from the books in Q2 itself. ‘| 4 Q1 24 Q2 24 ri —————— CAPITAL Capital Adequacy Ratio (%) Loan Loss Provision & Write-Offs (in % crores) 8.0 5.5 29.9% 35.4% 33.2% : 6 0 .0 16 2.7 7 — i -2.0 Q3 23 az Q2 24 Q3 24 -4.0 66 -1.1 -8.0 Q3 23 Q4 23 Q124 Q2 24 Q3 24 10.0 TA Profit after Tax (in % crores) 83.1 19.7 “yj is | 10.3 irl Q3 23 Q4 23 Q1 24 Q2 24 APPACHAN CAPITAL 13 ROA (%) ROE (%) 80.0 Soe 20.0 60.0 15.0 10.0 22.1 10.0 = 18-3 14.5 - @3.7 O: o 3.6 a 20.0 “6.99 a 0.0 0.0 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q3 23 Q4 23 Q124 Q224 Q3 24 Earnings per Share (in ) 15.8 o @a 6.1 f P i Q3 23 Q4 23 Qi 24 Q2 24 Q3 24 CAPITAL 1 Net Worth (in = Crores ) Debt Equity Ratio 700.0 + 5 4.50 D 8 600.0 on “ = ot KN 3 9 . rs 4.00 2 ° ©65 500.0 0 t+ &) 400.0 3.50 3 & 300.0 3.00 oO AN ‘oO 200.0 N 2.50 100.0 0 2.00 Q3 23 Q4 23 Q124 Q2 24 Q3 24 Q3 23 Q4 23 Q1 24 Q?2 24 Q3 24 Onevacss Q1 FY 23 Q2 FY 23 Q3 FY 23 Q4 FY 23 oom a! Q2 FY 24 Q3 FY 24 BV (2) 258.8 269.9 281.8 297.4 308.4 359.0 365.2 Spread Analysis 12.00% 22.50% 10.00% 22.00% 8.00% 21.50% 6.00% 21.00% 4.00% 20.50% 2.00% ; 20.00% 0.00% ~ r - 19.50% -2.00% 19.00% 1 2 3 4 5 6 7 mmm Series2 7.16% 8.01% 7.18% 8.50% 9.15% 9.60% 10.35% Series3 7.27% 6.55% 7.93% 7.84% 7.40% 7.17% 6.72% m™ Series4 1.82% 1.70% 0.30% -1.41% -0.23% 0.56% 1.21% ™™ Series5 3.85% 4.64% 5.17% 7.05% 4.77% 2.93% 2.76% ——Series1 20.70% 20.90% 21.18% 21.98% 21.09% 20.26% 21.03% irl ———— APPACHAN CAPITAL Analysis of Cost & Yield —@ Cost of Funds —a-Yield 25.00% 19.85% 9 ; 9 6 20.00% 18.88% 19.44% 19.17% 19.53% 19.28% \ — ~~ 17.50% 17.52% SS 16.78% Sei 15.00% 9.54% ; , 5 AR9 9.70% 9.80% 9.82% 10.00% 8.83% 9.10% 8.74% 9.00% 7.18% 7 a8 — ~~ © a oe ——— Oa © ——— — > 5.00% 0.00% FY 21 FY 22 FY 23) Q1 FY 23 Q2 FY 23 Q3 FY 23 Q4 FY 23 Q1 FY 24 Q2 FY 24 Q3 FY 24 —— PAPPACHAN CAPITAL MODE WISE COLLECTION (HYP) %. In Crores 107 116 114 113 114 112 113 90% in Ya) a Ly 80% 70% 60% 50% = - SS Ya Ya) 40%9 B2y oPsN a 30% 20% 10% 0% Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 m NACH/BANK tmCASH/OTHERS * Directly at MFL branches/Collection by Company executives / outsourced agencies muthoot ~ CAPITAL Collection Performance Monitoring CORPORATE LOAN = InCrores Monthly Collections Monthly Billing % of collection Jan-23 11.74 11.74 100% Feb-23 16.04 16.03 100% Mar-23 10.69 10.68 100% Apr-23 12.94 12.94 100% May-23 11.59 11.58 100% Jun-23 10.83 10.82 100% Jul-23 11.21 11.20 100% Aug-23 11.57 11.55 100% Sep-23 15.89 15.88 100% Oct-23 14.41 14.41 100% Nov-23 14.81 14.81 100% Dec-23 14.03 14.02 100% irl APPACHAN CAPITAL BUCKET 0 — COLLECTIONS EFFICIENCY% TREND 100% 99% 99% 98% ge, 98% 98% 97 96 95 94) 93 92% PAPPACHAN ~ CAPITAL x 97% 97% x x x x 97% 97% 97% 97% y, 90% 96% oO" 96% ae _96%.76% 95% 95% | | | | W| UT wy nh on a a P D xv V x vv PP w@ oe oY w© 9ze « oS yoy ge a Ra ro ee ——— val 90+ - NPA-(POS) TREND POS in & Cr 600.0 500.0 ° ° 55. 435.6 430.7 427.4 4240 416.7 4105 400.0 300.0 4 195.6 4 194.6 200.0 1 100.0 I 0 . | | Yv & vv » P&P PP et og oO wb PP PPP XP s PP > Ss > ye xf we ¢ ye + y N yw” ¢ ok ¢ Oo ¢ ww YY * Vy ys 7 ce ? Ww x ye x te ye y yw” ok Oo XS x FY23 Q2 FY 24 Q2 FY 24 Q3 FY 24 In Q2 Company has done ARC of % 235 Crs. The portfolio has been derecognized from the books in Q2 iri itself. a ——| —<——— CAPITAL y) Liquidity Projections . In Crores Particulars Jan-24 Feb-24 Mar-24 Q4 FY 2023 Opening Balance 313.67 262.60 330.24 313.67 Inflows New Funding / Borrowings 50.00 105.00 200.00 355.00 New funding through PTC / NCD /MLD / CP 100.00 100.00 WCDL/CC Rollover 50.00 45.00 215.00 310.00 EMI Repayments incl. sold portfolio 178.10 130.30 130.40 438.80 Other receipts 14.28 8.40 8.41 31.09 292.38 388.70 553.81 1,234.89 Outflows Repayment of Term Loans (Principal)/FD's& Sub debt/CP/NCD/ICD/MLD 54.15 9.67 95.92 159.74 Repayment of WCDL/DP Reduction 50.00 45.00 215.00 310.00 Securitization /DA collection payable 31.39 29.89 26.79 88.07 Interest on borrowings 10.33 8.55 8.55 27.43 Operational expenses 21.79 23.30 23.20 68.29 Statutory dues payable 2.68 2.65 6.65 11.98 Monthly Disbursement 173.11 202.00 212.00 587.11 343.45 321.06 588.11 1,252.62 Cumulative closing balance 262.60 330.24 yhoo we] | yhoo we] | | *Considered bank balance /undrawn sanctions & worked the cash position at end of Q3 FY24; added the budgeted expenses and expected P disbursements and collections. PAPPACHAN CAPITAL oa MCSL GEOGRAPHIC OVERVIEW — RETAIL LOANS 100% 900.00 : Total Zone Zone 90% fii a 86: er Ue Yee, 800.00 Chen AUM wise _ wise 80%75.53 700.00 (Cares)) AUM% NPA% 70% so009 south 184523 775.53 44.51% 51.68% 40% West 24,332 94.25 5.41% 12.52% 50% 4 North 43,478 176.71 10.14% 18.95% 4oy%, 87.03" we? 400.00 East India 42,727 154.83 8.89% 16.85% 30% ‘ 300.00 CO Lending 1,06312 531.72 30.52% 0.00% 70% 200.00 Business 10% 100.00 Association 1,502 932 0.53% 0.00% oe 2 32 000 Creel 402,874 1,742.35 100% 100% South West North East “ENDI Nc BC me NPA 12.97% 25.84% 20.87% 21.18% 0.00% 0.00% mmm Regular 87.03% 74.16% 79.13% 78.82% 100.00% 100.00% ——Total AUM (crs) 775.53 94.25 176.71 154.83 531.72 9.32 mem Regular mamINPA —Total AUM (crs) irl rmuthoot CAPITAL PFrActkt FF, Fu fF Fr 2W 400,417 1,719.96 4W 942 17.74 Securitized (part of own book) 304.97 Others 1515 4.65 Direct Assignment 3.98 Own Portfolio excl securitized 1,433.80 1.02% 9.27% Off Book 3.21 On Book 1,739.14 98.72% 2W @4W Others PAPPACHAN @ ZONEWISE DISBURSEMENT i an = South = West = West = North a Q3 FY24 Q2 FY24 ™ East X Cr 279.94 ; < Cr 453.89 = Co lending = Co lending = Business Assoc =| Business Assoc Share of Branch and Dealer of zone-wise disbursement 1% 0.01 = Branch = Branch = Co Lending = Co Lending = Dealer = Dealer = Business Asso = Business Asso —=<— APPACHAN CAPITAL PORTFOLIO ANALYSIS -(POS) RETAIL LOANS %. In Crores Portfolio Analysis Segment - wise Analysis 11.17% 150.00% 1719.96 22.39 100.00% = NPA 50.00% 94.54% Regular 1547.75 0.00% Two Wheeler Four Wheeler & Others 88.83% M@NPA @Regular Source - wise Analysis Bucket - wise Analysis 5 0.64% _ 11.17% 1007.41 N 3.63% e #0 6.78% ie STRIP rereNor3 10 0.00% a2 17.08% TT'62% 0.00% 0.00% a3 = Above3 DEALER BRANCH CO LENDING BUSINESS m= NPA @ Regular ASSOCIATION muthoot CAPITAL Partnerships PARTN ERSHIP PERFORMANCE %. In Crores ere ama eS) Category 1to30 31to60 61to 90 ell Total Wheels EMI Co Lending 248.91 32.89 6.69 - 288.48 UP Money Co Lending 28.09 0.68 - - 28.77 Credit Wise Capital Co Lending 154.82 - - - 154.82 Manba Finance Co Lending 57.53 2.01 0.11 - 59.64 Deccan Finance Business 9.32 - - - 9.32 Association Grand Total irl PAPPA CHAN CAPITAL NPA Movement (Excluding DA) Dec -23 z. In Crores ®. In Crores eS PIETITRCIN (Oe Mar-23 Jun-23 Sep-23 Dec-23 Opening Balance 190.97 GNPA 464.49 | 454.72 | 206.22 | 207.36 ECL Provision 387.12 | 378.34 | 143.23 | 143.58 Add: New sliopage during the Quarter 25.69 NNPA 77.37 | 76.38 | 62.99 | 63.78 GNPA % 22.14% | 22.82% | 11.67% | 10.69% Less: Normalised and closed during the Quarter 11.7 NNPA % 4.52% | 4.73% | 3.88% | 3.55% Less: Repossessed vehicles sold during the Quarter 5,95 PCR 89.78 | 90.11 | 75.00% | 75.00% Less: Amount collected during the Quarter 1,62 Closing Balance 191.39 * Interest accrued on NPA 2 15.97 Crs not Included irl PAPPACHAN CAPITAL